The government's stalled projects are predominantly in infrastructure.
The first session of 17th Lok Sabha will commence on Monday, which will see the passing of the Union Budget and some key legislations like triple talaq bill being on top of the government agenda.
'Pump prices of petrol and diesel have reached historical highs. An unwinding of taxes on petroleum products by both the Centre and the states could ease the cost-push pressures,' the Monetary Policy Committee (MPC) has said.
Very gradual fiscal consolidation glide path with looser-than-expected fiscal policy; good quality spending mix and reasonable assumption on fiscal math; and focus on privatisation, asset monetisation and long-term funding for infrastructure investments, according to Morgan Stanley, are the three key themes from the Budget 2021.
Taking potshots at Prime Minister Narendra Modi over his remarks that the United Progressive Alliance government left everything empty, Congress on Monday claimed "bad days have begun for the countrymen", citing a socio-economic survey of Gujarat.
"Of the structural reforms, the GST has been the most historic in our country. Its chief architect is not with us today. I pay homage to the visionary leader late Arun Jaitely. GST has been gradually maturing into a tax that has integrated the country economically," she said during her budget speech.
The finance ministry's plan to offer basic banking licences may find few takers because of doubts over the commercial viability of the proposed business model.
The meeting with economists and financial experts has been called off due to pressing engagements of the finance minister.
The finance minister (FM) in his speech confirmed growth forecasts in the Economic Survey that the economy is likely to grow at 8.6 per cent during the current fiscal.
The Economic Survey states that the rationalisation and reprioritisation of subsidies through better targeting would play a vital role in fiscal consolidation and in targeting expenditure more towards inclusive development.
Net profit of the private sector entities followed a downward trend in third and fourth quarters of 2008-09.
"The year 2010 has been one of strong growth for the Indian capital markets. Bulls tossed off the markets in the year 2010... following global recovery and with FIIs pumping money into the market," the Economic Survey said.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
Both across India and the four regions - north, south, east and west - it is found that the absolute prices of a vegetarian thali have decreased significantly since 2015-16 though the price has increased in 2019.
'There are some encouraging signs.' 'Notice that we have not said 7%-plus, we are keeping it at 6% to 6.5%.'
The Economic Survey has acknowledged the measures taken by the UPA government on the macro stabilisation front and the successes achieved in containing the current account deficit and reducing the fiscal deficit.
Budget 2010 went far beyond most recent Budgets in that it defined an entirely new paradigm for the Indian economy.
Budget 2010 went far beyond most recent Budgets in that it defined an entirely new paradigm for the Indian economy.
Lauding the farm sector for demonstrating resilience during the pandemic, the Economic Survey on Friday suggested the government to see farm sector as a "modern business enterprise" for which "urgent reforms" are required to enable sustainable and consistent growth. India's agricultural sector has shown its resilience amid the adversities of COVID-19 induced lockdowns, the Survey noted. The agriculture and allied activities were the sole bright spot amid the slide in GDP performance of other sectors, clocking a growth rate of 3.4 per cent at constant prices during 2020-21, it added. According to the Survey, the farm sector has got "renewed thrust" due to various measures on credit, market reforms and food processing under the Aatmanirbhar Bharat announcements.
As one of the remedial measures, it has called for better connectivity of ports with hinterland to avoid congestions and faster movement of goods.
Lauding the strong industrial performance, the Economic Survey on Thursday asked the government to ensure a balance and sustained growth as certain sectors have failed to see a revival in 2009-10.
Lauding the strong industrial performance, the Economic Survey on Thursday asked the government to ensure a balance and sustained growth as certain sectors have failed to see a revival in 2009-10.
On the Rs 20,000-crore (Rs 200-billion) modernisation of Delhi and Mumbai airports, the survey said work is in progress, adding that while the Delhi Airport project is likely to be completed by 2010, work at Mumbai airport will be over by 2012.
Consumption of petrol and diesel will contribute more than half of the Centre's exclusive share in GST in FY20, reports Abhishek Waghmare
With regard to foreign institutional investors, the survey said that there are signs that FIIs who had recorded net outflows in 2008-09 may have returned to the Indian market in the last two months.
The government should cut customs duties and streamline export promotion schemes and pay special attention to infrastructure to overcome the contracting exports on account of recession in India's major trading partners, the Economic Survey said.
The Gross State Domestic Product (GSDP) of Maharashtra is expected to grow at 8.6 per cent during the year 2009-10 as against 3.4 per cent during the previous year, an economic survey said.
Indian Economy poised for growth, say experts.
The finance minister said that the Central Statistical Organisation in its advance estimate has projected the economy to grow by 7.2 per cent this fiscal.
In the Eleventh Five-Year Plan period (2007-12), employment opportunities would surpass the projection of about 45 million, in turn helping to bring down unemployment in the country to below five per cent, according to the Pre-Budget Economic Survey tabled in Parliament on Thursday.
The pre-Budget Economic Survey on Thursday said the country's tax system continues to be complex and asked the government to undertake further reforms, including implementation of a uniform tax structure -- goods and services tax.
High domestic food prices are still a cause for concern despite India hugely benefiting from a slump in global oil and commodity prices that pushed inflation into negative zone, the Economic Survey said.
The improvement in the fiscal health of particularly the states and the Centre led the high growth trajectory of the period FY'04 to FY'08, according to the pre-Budget Economic Survey, presented in Parliament on Thursday.
New simplified law should be put in place to replace the over four-decade old Income Tax Act and streamline the direct taxation structure, the Economic Survey said.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
Rajan said RBI should pay as much dividend as possible to the government, which over the past two years has run into billions of dollars
As part of the ritual, ''halwa'' is prepared in a big ''kadhai'' (large frying pot) and served to the entire staff involved in the Budget making exercise of the ministry. Halwa was served while maintaining COVID protocol with all present in mask and those distributing sweets were wearing gloves.
Provisions of long-term capitals gains tax is now applicable after only two years.
Outlook for external sector is the most favourable.
Survey calls for reorienting policies to promote young firms which have the potential to become big, rather than small MSME firms which remain small.
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